CBI auctions +$269 million in forex on Tuesday

CBI auctions +$269 million in forex on Tuesday
2024-07-02T11:13:23+00:00

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $269 million in the currency auction on Tuesday.

According to Shafaq News correspondent, the Bank sold today $269,250,000 in its auction.

These sales were covered at a basic exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards and external transfers and at a rate of 1,305 IQD per dollar for cash transactions.

The majority of dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $239,000,000, representing a 95% increase compared to cash sales, which amounted to $30,250,000.

6 Banks purchased cash dollars, while 4 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 172 companies.

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